SC reserves verdict on collected dam funds for investment

ISLAMABAD: Supreme Court (SC) Wednesday reserved its verdict on Supreme Court and Prime Minister Diamer-Basha and Mohmand dams collected funds for investment.

Justice Azmat Saeed said the court would decide the matter this day after consultation.

A five-member larger bench of the apex court, headed by Justice Sheikh Azmat Saeed and comprised Justice Umar Ata Bandial, Justice Faisal Arab, Justice Ijaz Ul Ahsan and Justice Munib Akhtar, heard the case regarding construction of Diamer Basha and Mohmand dams.

During the course of proceedings, amicus curiae Dr Pervez Hassan pleaded the court for withdrawal of his responsibilities.

He said he remained counsel for Descon company and it wanted to hire his services to counter propaganda.

The court accepted Dr Pervez Hassan appeal and said Descon company case was not pending before the court.

Attorney General for Pakistan Anwar Mansoor Khan complained the court about the behaviour of the media and said Hum News aired a programme about contract of the dam.

He said apex court on January 9, barred the media to scandalise dam construction matters.

The bench sought copy of compact disk of anchor Muhammad Malik's programme aired on Hum TV.

Justice Azmat Saeed said the court endured unnecessary criticism.

He said there was a lot of difference between criticism and vilification.

The attorney general said Pakistan Electronic Media Regulatory Authority (PEMRA) had fined three television channels.

The court in its January 9, order had said the apex court would take notice of violations by media channels.

Justice Azmat Saeed said the court would decide the matter after reviewing the contents of the programmes.

Justice Azmat Saeed said the court was not a spokesperson of the government.

Justice Ijaz Ul Ahsan observed that some television channels were doing yellow journalism by playing in the hands of dam opponents.

Justice Faisal Arab said projects did not stop due to criticism.

Discussing investment of dam fund, the Attorney General suggested to invest dam funds in Pakistan Investment Bonds.

Around 12.2 percent profit could be earned for investment in Pakistan bonds for three years, he added.

The WAPDA chairman said work regarding construction of dams was continuing according to the time frame.

He said there would be need of foreign investment after 18 months and need for local investment would be after nine months.

He said amount collected in the dam fund would be needed after seven years.

The counsel for WAPDA said Asian Development Bank agreed to in invest $500 million in dam and a $80 million agreement was finalised with Saudi Development fund.

He said negotiations were continue with Chinese officials for investment in dams.

He said the government had allocated required Rs17 billion for the current year.

The WAPDA counsel said currently there was no issue of funds for construction of dams.

The WAPDA Chairman said the authority would acquire 7,800 acre of land for Mohmand dam till December.

He said all tribes agreed to sale their land to the government for construction of Mohmand dam and they also agreed on price of the land. The tribes would itself distribute amount of the land among themselves.